Market Size – USD 3.83 Billion in 2019, Market Growth – at a CAGR of 17.1%, Market Trend – Increasing government funding for drug testing
— Emerging research
VANCOUVER, BC, CANADA, June 23, 2022 /EINPresswire.com/ — The global drug testing market is expected to reach a value of $13.56 billion by 2027, according to current analysis by Emergen Research. Growth in the consumption of alcohol and illegal substances and stringent regulations in both developing and developed regions are some of the major driving factors of the drug testing market. The increase in the number of accidents caused by heavy alcohol consumption creates a demand for drug testing. Drug testing is a method used to detect drugs in urine, blood or other samples. It is commonly performed in workplaces as a pre-employment test for individuals and athletes. Advances in drug testing technology and increasing application of drug testing devices among various end users are fueling the market. Governments have increased funding for the development of drug testing programs, which is expected to increase the market in the near future. However, the prohibition of drug and alcohol use in developing countries is holding back the drug testing market in these countries.
The COVID-19 pandemic has affected several sectors of the global market, and the drug testing industry is expected to feel the impact of the pandemic. The economic downturn and dynamic changes in demand will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Drug Testing industry. The report offers insightful insights into market dynamics of the Drug Testing Market. It offers SWOT analysis, PESTEL analysis and Porter’s Five Forces analysis to present a better understanding of the Drug Testing market, competitive landscape, factors affecting it and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of regulatory framework on the Drug Testing market growth.
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In May 2020, Psychemedics Corporation launched a vaping panel to screen for nicotine, marijuana, and cannabidiol (CBD) use. This test helps businesses and schools detect the presence of any drug ingested by any means. It is specifically designed to combat the e-cigarette trend among young people.
Breathalyzers are used to estimate the alcohol content of the breath. The product is in high demand as it is easy to acquire, it gives accurate results and the test can be performed from anywhere.
It has also been observed that breath samples offer various advantages for drug testing, as they are less intrusive, less invasive and less time consuming than urine or blood samples.
Workplace end-use segment held the largest market share in 2019 as several companies observe strict policy of random drug testing to maintain a safe working environment and improve productivity. Several professional sporting events also conduct drug screenings to prevent cheating.
North America held the largest share of the global drug testing market in 2019. Increased incidence of drug abuse in the region and implementation of regulations allowing drug testing is expected to boost the market by North America during the forecast period.
Key Companies Featured in the Report:
Quest Diagnostics, LabCorp, Drägerwerk, Thermo Fisher Scientific, Alfa Scientific Designs, Omega Laboratories, Roche Diagnostics Limited, Siemens Healthineers, Premier Biotech and Psychemedics
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For the purposes of this report, Emergen Research has segmented the global drug testing market on the basis of product and service, sample type, end-user, and region as follows:
Products and Services Outlook (Revenue, USD Billion; 2017-2027)
Drug testing products
Fuel Cell Breathalyzers
Solid state breathalyzers
Rapid test devices
Urine testing devices
Drug Testing Mugs
Drug Testing Tapes
Oral fluid analysis devices
Sample Collection Tubes
Calibrators and controls
Drug testing services
Sample Type Outlook (Revenue, USD Billion; 2017-2027)
Oral fluid samples
End User Outlook (Revenue, USD Billion; 2017-2027)
Criminal justice systems and law enforcement agencies
Drug Testing Laboratories
Drug treatment centers
Pain management centers
Schools and colleges
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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The report offers insightful insights into market dynamics of the Drug Testing Market. It offers SWOT analysis, PESTEL analysis and Porter’s Five Forces analysis to present a better understanding of the Drug Testing market, competitive landscape, factors affecting it and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of regulatory framework on the Drug Testing market growth.
Radical Highlights Of The Drug Testing Market Report:
Comprehensive overview of the Drug Testing market along with an analysis of changing market dynamics
Assessing the growth of various market segments throughout the forecast period
Regional and global analysis of market players including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of technological developments and R&D advancements on Drug Testing market
Information on money-making strategies and development strategies of major companies and manufacturers
Relevant information for new entrants wishing to enter the market
Details and information on business expansion strategies, product launches and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, feasibility analysis, and investment return analysis.
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About Emergen Research
Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from a variety of areas of expertise. Our industry experience and ability to develop a workable solution to any research problem gives our clients the ability to secure an edge over their respective competitors.
Drug testing market size worth USD 13.56 billion by 2027